Premier Group reports surge in profit in maiden results

Premier Group, the owner of the Pepkor clothing and homeware chain, has reported a surge in profit for the year to end-February.

1. Headline earnings per share (EPS) rose 22% to 61.7 cents, from 49.9 cents in the previous year.
2. Revenue rose 17% to R50.4 billion, from R43.2 billion in the previous year.
3. The group’s retail division, which includes Pepkor, Ackermans, and Tekkie Town, saw headline EPS rise 23% to 58.7 cents, from 48.2 cents in the previous year.
4. The group’s financial services division, which includes Pepkor Finance and Pepkor Retail Debt Solutions, saw headline EPS rise 19% to 3.0 cents, from 2.5 cents in the previous year.
5. The group’s property division, which includes Pepkor Property Investments, saw headline EPS rise 14% to 1.9 cents, from 1.7 cents in the previous year.
6. The group’s international division, which includes Pepkor International and Pepkor USA, saw headline EPS rise 21% to 1.1 cents, from 0.9 cents in the previous year.
7. The group’s chairman, Doug Hoernle, said the results were “encouraging” and that the group was “well-positioned” for future growth.